Can I retire at age 63 with 889,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$73,413$72,759$72,121$71,498$70,890$69,773
2 years$36,343$35,666$35,010$34,374$33,757$32,635
3 years$23,988$23,308$22,654$22,024$21,417$20,324
4 years$17,812$17,134$16,486$15,867$15,275$14,220
5 years$14,107$13,433$12,794$12,187$11,612$10,597
6 years$11,638$10,969$10,339$9,746$9,188$8,216
7 years$9,875$9,212$8,592$8,013$7,472$6,543
8 years$8,553$7,896$7,287$6,722$6,199$5,312
9 years$7,526$6,875$6,276$5,726$5,220$4,375
10 years$6,705$6,060$5,472$4,935$4,448$3,644
11 years$6,033$5,395$4,817$4,295$3,825$3,061
12 years$5,474$4,842$4,275$3,768$3,315$2,590
13 years$5,001$4,376$3,820$3,326$2,891$2,204
14 years$4,596$3,978$3,432$2,953$2,534$1,885
15 years$4,245$3,634$3,099$2,633$2,231$1,618
16 years$3,939$3,334$2,809$2,358$1,972$1,393
17 years$3,668$3,070$2,556$2,118$1,748$1,203
18 years$3,429$2,837$2,334$1,909$1,555$1,041
19 years$3,214$2,629$2,136$1,725$1,386$903
20 years$3,021$2,443$1,961$1,562$1,238$785
21 years$2,847$2,276$1,803$1,418$1,108$683
22 years$2,689$2,124$1,662$1,289$993$595
23 years$2,545$1,987$1,535$1,174$891$519
24 years$2,413$1,862$1,419$1,071$801$453
25 years$2,292$1,747$1,315$978$721$396
26 years$2,180$1,642$1,219$894$649$346
27 years$2,077$1,545$1,132$819$585$303
28 years$1,981$1,456$1,052$750$528$265
29 years$1,892$1,374$979$688$477$232
30 years$1,810$1,297$912$631$431$203
31 years$1,732$1,226$850$580$390$178
32 years$1,660$1,160$793$533$352$156
33 years$1,592$1,099$741$490$319$137
34 years$1,528$1,042$692$451$289$120
35 years$1,468$988$647$415$262$106
36 years$1,412$938$605$382$237$93
37 years$1,359$891$567$352$215$81
38 years$1,308$846$531$325$195$71
39 years$1,261$805$497$299$177$63
40 years$1,215$766$466$276$160$55
41 years$1,173$729$437$255$145$48
42 years$1,132$694$410$235$132$42
43 years$1,093$661$385$217$120$37
44 years$1,056$630$361$200$109$33
45 years$1,021$601$339$185$99$29
46 years$988$573$318$171$90$25
47 years$956$547$299$158$81$22
48 years$925$522$281$146$74$19
49 years$896$499$264$135$67$17
50 years$868$477$248$125$61$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $889,000, adding $2,355 every year, while hoping to spend $34,939 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 33/45/22 Blend
62$889,000$889,000$889,000$889,000
63$982,107$934,990$921,211$1,007,818
64$1,045,107$943,630$914,896$1,035,869
65$1,113,362$951,522$907,200$1,062,740
66$1,187,372$958,593$898,037$1,090,985
67$1,267,684$964,764$887,322$1,120,747
68$1,354,903$969,953$874,962$1,152,185
69$1,449,692$974,070$860,863$1,185,477
70$1,552,783$977,021$844,924$1,220,823
71$1,664,978$978,707$827,040$1,258,442
72$1,787,163$979,020$807,103$1,298,582
73$1,920,309$977,848$784,996$1,341,517
74$2,065,489$975,070$760,602$1,387,553
75$2,223,879$970,560$733,793$1,437,030
76$2,396,779$964,181$704,439$1,490,325
77$2,585,615$955,791$672,402$1,547,859
78$2,791,960$945,237$637,540$1,610,101
79$3,017,545$932,358$599,702$1,677,568
80$3,264,275$916,984$558,732$1,750,839
81$3,534,247$898,933$514,467$1,830,553
82$3,829,773$878,013$466,734$1,917,421
83$4,153,396$854,022$415,356$2,012,232
84$4,507,918$826,744$360,145$2,115,861
85$4,896,423$795,952$300,908$2,229,278
86$5,322,310$761,406$237,440$2,353,559
87$5,789,321$722,850$169,529$2,489,897
88$6,301,577$680,015$96,954$2,639,613
89$6,863,618$632,616$19,482$2,804,171
90$7,480,445$580,351$0$2,985,192
91$8,157,565$522,903$0$3,199,307
92$8,901,046$459,935$0$3,439,512
93$9,717,571$391,091$0$3,703,493
94$10,614,504$315,995$0$3,993,750
95$11,599,955$234,250$0$4,313,043
96$12,682,859$145,436$0$4,664,425
97$13,873,059$49,112$0$5,051,264
98$15,181,402$0$0$5,477,284
99$16,619,834$0$0$5,973,926
100$18,201,519$0$0$6,546,916